What is an real estate?
According to Article 174 of the Civil Code No. 33/2005 / QH11, passed on June 14, 2005 by the National Assembly of the Socialist Republic of Vietnam::
Real estate means properties that include:
-Land
Houses and constructions attached to land; including properties attached to such houses or constructions
-Other properties associated with the land
Other properties prescribed by law
What is the real estate market?
The real estate market is the space, time, and place where specific activities such as buying, transferring, leasing, mortgage and related services such as intermediaries, brokerage, consulting … relating to real estate among entities in the market in which the state management role has a decisive effect on the promotion of development or inhibiting business activities in the real estate market.
Real estate prices depend largely on the supply-demand relationship in the market.
The purpose of real estate valuation.
- Purchase, sale, transfer, mortgage, mortgage, bank loans.
– Determining the value of assets in service of the dispute
Financial leasing service.
– Calculating taxes and accounting books, financial statements.
– Investment and enterprise capital contribution, equitization.
– Determining investment value.
– Other purposes
How to set a selling price
Valuation is an absolutely necessary skill for success in real estate. To become a pricing expert, you need to know:
- How the market operates
- Market situation in the region
- Pricing criteria.
Pricing criteria
Valuation is the evaluation of an asset relative to other comparable assets. That is comparing the 20-year house, 3-bedroom, 2 bathrooms of the owner to the house that has just been sold in the area, with similar or similar characteristics to the other house. The following criteria are used when searching comparable properties
- Location
- Acreage
- Convenient
- Status
Above are some basic criteria that owners can refer to to determine their BDS products proactively without being forced by intermediaries.
In the future, with the operation of Blockchain technology and smart search application, surely the homeowners or BDS traders will not have too many difficulties in appraising property value another.
